AT&T and Time Warner M&A encounter setbacks

via:网易科技 time:2018/7/13 8:00:58 readed:292

He said in the statement: "The court's ruling is based on facts and the most reasonable judgment. Although the losing party in the lawsuit has the right to appeal, we are surprised that the US Department of Justice has chosen to appeal in this case. We are prepared to The Washington, DC Circuit Court of Appeals defended the court's ruling."

In June, a federal judge ruled that the $85 billion 400 million deal was legal and had no additional conditions for the merger. The U. S. Department of justice was disappointed at the decision. The agency argued that the deal would make the pay TV market "less competitive and lack of innovation". But it was nearly 200 pages long. In the book, US District Court judge Richard Leon (Richard Leon) concluded that the government failed to perform its duties and was unable to confirm that the transaction would significantly reduce competition.

Since the announcement of the bid in October 2016, AT&T has always insisted that the acquisition of Time Warner will help the company compete with technology companies such as Amazon and Netflix. AT&T is the second-largest wireless carrier in the US, which the company said will help it attract customers by tying entertainment and mobile services. Leon has warned the government not to delay the completion of the transaction, saying that it will be "unfair" and "caused irreparable harm to the defendant." The US Department of Justice finally decided not to submit a document requesting a postponement of the transaction, which was completed within a few days of making a favorable ruling.

While the judge described the appeal as a "fair game", Leon noted that the investigation and the commencement of the proceedings would have a "staggering cost to both the company and the government," said Craig Motxt of .MoffettNathanson. Given that Judge Leon's decision is decisive, there are few obvious grounds for the government to back its appeal. However, he said the Justice Department might try to refute "AT"